SF Baal: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SF Baal
Largest movements
- Tangible fixed assets -€123,506
down €123,506 (-27.8%), from €444,386 to €320,880
of which Other tangible fixed assets: -€107,930
- Cash +€62,861
up €62,861 (+25.9%), from €242,511 to €305,372
mainly Depreciation (+€131,445) and Trade debts (+€43,203)
- Stocks and contracts +€61,587
up €61,587 (+18.2%), from €338,575 to €400,162
- Receivables within one year -€35,341
down €35,341 (-12.4%), from €284,578 to €249,237
of which Trade receivables: -€26,838
- Debts after one year -€95,550
down €95,550 (-39.3%), from €242,964 to €147,414
- Trade debts +€43,203
up €43,203 (+8.6%), from €501,421 to €544,624
- Profit (loss) carried forward +€21,558
up €21,558 (+5.8%), from €368,899 to €390,457
- Gross operating margin -€66,959
down €66,959 (-13.4%), from €499,716 to €432,757
- Staff costs +€24,986
up €24,986 (+11.3%), from €220,916 to €245,903
- Taxes -€20,261
down €20,261 (-57.5%), from €35,218 to €14,957
- Other operating charges -€13,612
down €13,612 (-91.6%), from €14,859 to €1,246
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,336,108 | €1,301,867 | -€34,241 | -2.6% |
| Fixed assets | 21/28 | €444,386 | €320,880 | -€123,506 | -27.8% |
| Tangible fixed assets | 22/27 | €444,386 | €320,880 | -€123,506 | -27.8% |
| Plant, machinery and equipment | 23 | €40,788 | €32,213 | -€8,575 | -21.0% |
| Furniture and vehicles | 24 | €22,870 | €15,869 | -€7,001 | -30.6% |
| Other tangible fixed assets | 26 | €380,727 | €272,797 | -€107,930 | -28.3% |
| Current assets | 29/58 | €891,722 | €980,987 | +€89,265 | +10.0% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €338,575 | €400,162 | +€61,587 | +18.2% |
| Stocks | 30/36 | €338,575 | €400,162 | +€61,587 | +18.2% |
| Amounts receivable within one year | 40/41 | €284,578 | €249,237 | -€35,341 | -12.4% |
| Trade receivables | 40 | €26,991 | €153 | -€26,838 | -99.4% |
| Other amounts receivable | 41 | €257,587 | €249,084 | -€8,503 | -3.3% |
| Cash at bank and in hand | 54/58 | €242,511 | €305,372 | +€62,861 | +25.9% |
| Deferred charges and accrued income | 490/1 | €1,058 | €1,215 | +€157 | +14.9% |
| Total equity and liabilities | 10/49 | €1,336,108 | €1,301,867 | -€34,241 | -2.6% |
| Equity | 10/15 | €401,899 | €423,457 | +€21,558 | +5.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €368,899 | €390,457 | +€21,558 | +5.8% |
| Amounts payable | 17/49 | €934,209 | €878,410 | -€55,799 | -6.0% |
| Amounts payable after more than one year | 17 | €242,964 | €147,414 | -€95,550 | -39.3% |
| Financial debts | 170/4 | €242,964 | €147,414 | -€95,550 | -39.3% |
| Amounts payable within one year | 42/48 | €690,179 | €729,930 | +€39,751 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €98,647 | €95,550 | -€3,097 | -3.1% |
| Trade debts | 44 | €501,421 | €544,624 | +€43,203 | +8.6% |
| Suppliers | 440/4 | €501,421 | €544,624 | +€43,203 | +8.6% |
| Taxes, remuneration and social security | 45 | €77,883 | €77,948 | +€65 | +0.1% |
| Taxes | 450/3 | €35,218 | €15,355 | -€19,864 | -56.4% |
| Remuneration and social security | 454/9 | €42,664 | €62,593 | +€19,929 | +46.7% |
| Other amounts payable | 47/48 | €12,228 | €11,808 | -€420 | -3.4% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,066 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €220,916 | €245,903 | +€24,986 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,117 | €131,445 | +€328 | +0.3% |
| Other operating charges | 640/8 | €14,859 | €1,246 | -€13,612 | -91.6% |
| Gross operating margin | 9900 | €499,716 | €432,757 | -€66,959 | -13.4% |
| Operating profit (loss) | 9901 | €132,825 | €54,163 | -€78,661 | -59.2% |
| Financial income | 75/76B | €154 | €526 | +€372 | +242% |
| Recurring financial income | 75 | €154 | €526 | +€372 | +242% |
| Financial charges | 65/66B | €6,845 | €8,174 | +€1,329 | +19.4% |
| Recurring financial charges | 65 | €6,845 | €8,174 | +€1,329 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €126,133 | €46,515 | -€79,618 | -63.1% |
| Income taxes | 67/77 | €35,218 | €14,957 | -€20,261 | -57.5% |
| Profit (loss) for the period | 9904 | €90,914 | €31,558 | -€59,357 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,914 | €31,558 | -€59,357 | -65.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.